And although the timing of some federal government grant revenue contributed to a better-than-expected operating result, the year-to-date ''headline result'' was a deficit of more than $174 million, slightly better then the projected $184 million.

The March Quarter Consolidated Financial Report has the territory heading for a full-year deficit for 2011-12 of $181 million, up from the $36 million predicted a year ago.

But Treasurer Andrew Barr said yesterday Commonwealth spending for Canberra brought forward in last week's federal budget meant the final deficit figure would move again and probably be in the region of $160 million.

It is the second consecutive quarter when lower-than-expected stamp duty revenue and delays in the receipts in change-of-use (CUC) revenue have been highlighted by revenue officials.

According to the report, increased federal revenue for the March quarter of nearly $30,000 had been ''partially offset by a decrease of $18.1 million in taxation revenue mainly due to lower than anticipated conveyance duties, due to moderating conditions in the housing market from continued consumer caution about the global economic outlook''.

Treasury also conceded that millions of dollars in CUC, or lease variation charge which levies a tax on property developers when they change building zonings, had been lower than anticipated.

''There are currently around 90 applications in the system for the lease variation charge, totalling around $15 million that have been determined but not paid,'' the report says.

Mr Barr told The Canberra Times many developers were expected to pay their CUC charges before the end of the financial year, however, the full amount might not be paid for two years.

''It depends when they want to proceed [with their projects],'' he said.

''But these figures won't include what has been paid in April and up to the middle of May, and the advice I'm getting from Treasury is that we can expect a rush of payments in June.''

The CUC revenue had been earmarked for a key policy initiative, the Urban Improvement Fund.

''Our Urban Improvement program is in arrears,'' Mr Barr said.

The Treasurer said he remained confident the change-of-use charge would net the government about $20 million each year.

But shadow treasurer Brendan Smyth said the figures showed the territory's budget was in a dire state.

''With the federal Labor government slashing thousands of Canberra jobs, it is more important than ever for the ACT Labor government to manage the budget properly,'' he said.

''ACT Labor is the highest taxing government in territory history and has form in slugging Canberrans even further when they can't manage their spending. There is no doubt that this government won't deliver a surplus, but the question is how badly they will hit Canberrans' bottom line.''